The Inside Story Of Indian Banking by Sandip Sen [Hardcover]

The Inside Story of Indian Banking by Sandip Sen is an investigative and analytical account of India’s banking sector, examining its history, structural problems, major financial scandals and the reforms needed to strengthen the system.

The book looks beyond high-profile cases involving Vijay Mallya, Nirav Modi, Chanda Kochhar and Rana Kapoor, exploring how banking fraud and defaults can involve a wider network of bankers, auditors, regulators, bureaucrats and politicians. It also examines broader issues such as bank nationalization, liberalization, slowing credit growth, bank mergers, deposit security, regulatory changes and the impact of the COVID-19 lockdown.

Drawing on data and interviews with more than 60 bankers, lawyers, analysts and other professionals, Sen traces the evolution of Indian banking from the colonial period to the contemporary crisis. Importantly, the book does not merely diagnose the problems—it presents seven proposed reforms aimed at restoring the health of the banking system and improving the flow of credit without relying solely on mass privatization.